Finance Minister AHM Mustafa Kamal has proposed changes to duties on different products, which will result in an increase or decrease in their prices.
In the proposed budget, the prices of these products are expected to change:
Up
Mobiles: The price of mobile phones may go up as withdrawal of the existing 5% VAT exemption was proposed at the business level of mobile phone sets.Laptops: A further 15% tax has been imposed on imported laptops, which will increase the price.
Fridge: The price of refrigerators may go up as the finance minister has proposed fixing the VAT rate at 5% by withdrawing the exemption at the local production level of refrigerators and freezers.
Elevators: The prices of elevators will go up as 5% import duty on imported elevators has been proposed.
Cars: Prices of cars may go up as supplementary duty has been increased. Luxury reconditioned vehicles above 4000cc have been proposed to be taxed at about 800%, including supplementary duty, regulatory duty, advance tax and VAT.
Motorcycles: 100% supplementary duty in case of import of four stroke and 250% supplementary duty in case of import of two stroke motorcycles with engine capacity above 250cc has been proposed.
Cigarettes: Increase in the price of three out of the four levels of cigarettes.
Lighters: Price of lighters is expected to go up as an increase in import duty from 10% to 25% has been proposed.
Water purifiers: The price of water purifiers will increase.
Cheese: Imposition of a 20% supplementary duty on imported cheese has been proposed.
Coffee: Prices of coffee and coffee-based products are expected to rise as a 20% supplementary duty on processed and ready-to-consume coffee imports has been proposed.
Train fares: First-class train fares will increase by at least 15%. AC tickets as well as train chair coach tickets will cost additional fares.
Luxurious birds: Import duty will see an increase to 25% from 5%.
Additionally, car cylinders, paper caplets, aluminum foil, computer printer toners, meditation service products, imported electronic cables, all sorts of pipes, imported solar panels, optical fiber cables, imported chairs, printing ink, and all kinds of rubber products will be increasing in price.
Down
Local computers: Prices for locally produced computers and ICT products are likely to fall as 5% duty has been withdrawn from computer goods, on laptops, desktops, printers and other computers and ICT products for the development of local industries.Local cars: Prices of cars manufactured in Bangladesh will be comparatively decreasing as the industry will receive VAT exemption.
Restaurants: VAT halved on AC restaurants, except for restaurants in hotels with three or more stars, and restaurants where alcohol is served.
Puffed rice: Puffed rice prices may fall due to proposed VAT exemption in the upcoming fiscal year.
Cashew nuts: Tariff on import of raw cashew nuts has been reduced.
Sugar: VAT exemption has been proposed for sugar products at the business level.
Polythene bags: Withdrawal of existing 5% supplementary duty on all types of polythene bags, plastic bags and wrapping materials made of polyethylene has been proposed.
Agricultural machinery: Prices of locally produced agricultural machinery and equipment will decrease.
Braille printing materials: VAT exemption on braille printing materials for the visually impaired has been proposed as a social welfare service.
Prices of LED TVs, almonds, animal feed, hand towels, clinical bedsheets, poultry farm equipment, pesticides, agricultural products, imported aircraft, manufactured mobile battery-charger, and stainless steel will be reduced as well.